Estimation of Demand for Supplementary Reading Material Among Students in Pune free essay sample

Estimation of Demand for Supplementary Reading Material among students in Pune Prepared For: Mr. S. V. Godbole Pune March 2007 EXECUTIVE SUMMARY To estimate the demand for supplementary reading material for students (Medical and MBA) in Pune. Time for the project i) Total time: July 2006 to February 2007 ii) Fieldwork time: 25 days (January 2007) Objective 1) To estimate the demand for supplementary reading material for the next one year among the students (Medical and MBA) in Pune city. 2) To find reasons for borrowing/sharing supplementary reading material. 3) To find areas of interest in readership. Operational Definitions ? Estimation of Demand: done by intention to buyer’s survey in the next one year. ? Supplementary Reading Material (SRM): is an addition to the curriculum. These include periodicals and journals in English both in print and digital format. ? Student: MBBS and MBA students. ? Borrowing: from the library and peers, seniors, etc. There is no money spent on the individual units. ? Sharing: among friends, where the person pays a part of the amount spent on purchasing the units. ? Areas of interest: The subject different from the specialization of the respondent. This subject should be in tandem with the definition of SRM. Exploratory Study The exploratory research was conducted using two methods: Case Study The case study was prepared by Book Marketing Limited (London) for Publishers Association in 2003. The research objective of the case study was to conduct a study of information sources and book buying behavior of students. The objective of studying the case study was to gain an insight on the sample size and characteristics, the research methodology selected and the theories implemented during the research. Focus Group Interview Number of focus group interviews: 1 The objective was to help in determining the sampling design and the locations for conducting the interviews. Research Design Questionnaire Design: Structured, undisguised Survey Method: Respondents were contacted in college premises. Sampling Design: Quota sampling The sample consisted of 138 respondents of which 48 were MBBS students and 90 were MBA students. Respondents are MBBS students (private and government colleges) and MBA students (first and second year). Findings MBBS Students Sample size: 48 No significant statistical difference in the intended demand to purchase SRM in the next one year between MBBS students of private and non-private colleges is observed. [Ref. Table 2. 2. 1. 1(3)] The total intended demand lies in Rs. 0 to Rs. 729 with 95% confidence. [Ref. Table 2. 2. 1. 1(3)]. There are 42% respondents who do not purchase SRM and claim cost effectiveness as the main reason for borrowing/sharing SRM. [Ref. Figure 2. 2. 1. 8]. There is no clear preference for any particular area of interest though Technological Advancements and Equipments lead with 25%. [Ref. Table 2. 2. 1. 9]. MBA Students Sample size: 90 Significant statistical difference in the intended demand of SRM in the next one year between MBA students of the first year and the second year is observed. [Ref Table 2. 2. 2. 1(3)] The total intended demand on SRM lies in the range Rs 0 to Rs 401. [Ref Table 2. 2. 2. 1(3)] There are 76% respondents who claim that cost effectiveness is the main reason for not purchasing. The next in order of importance are low frequency of reading and unavailability. One respondent may have recorded more than one reason. [Ref. Figure 2. 2. 2. 8] There is no clear area of preference for readership of SRM though Marketing and Finance lead the choice of preference. [Ref. Figure 2. 2. 2. 9] ACKNOWLEDGEMENTS I would like to express my special gratitude to Mr. S. V. Godbole, Professor of Applied Marketing Research, for his guidance and valuable insights. His in depth knowledge and teaching helped develop the right approach towards the subject. I am also thankful to the Director and faculty of the Symbiosis Institute of International Business for giving me an opportunity to estimate the demand for SRM among the MBBS and MBA students in Pune city. This presentation could not have been possible without the support of my batch mates. I am thankful to them for their cooperation. Date: 06/04/2007Aakanksha Gupta TABLE OF CONTENTS CHAPTER I INTRODUCTION7 1. 1Background7 1. 2Introduction7 1. 3 Objectives8 1. 4Operational Definitions and Scope8 1. 5 Research Design9 CHAPTER II FINDINGS15 2. 1 Findings from secondary data15 2. 2 Findings from Survey16 CHAPTER I INTRODUCTION 1 Background The supplementary reading material market in India today is in a growth phase, with literacy levels and per capita incomes consistently increasing over the last ten years. A large part of SRM’s target audience comprises students, especially post graduate students. The results from the research conducted will help the manager in the following ways: 1. Pune has a large student population and the results of the research conducted here will help the manager ascertain his target market. 2. It will give the manager an idea about the sources from which students obtain SRMs. This will aid in distribution channel decisions. 3. The areas of interest will help the manager ascertain the content of the SRMs that he releases. 4. Most importantly, the current and intended demand, in terms of average expenditure on SRMs per year will aid the manager decide the size of the market for his product. 5. Pune is also a representative market that can be used as a benchmark for deciding marketing strategies in other markets. 2 Introduction The project has been undertaken as a part of academic curriculum under the subject Applied Marketing Research. The project has been completed under the guidance of Mr. S. V. Godbole, an M. B. A. from Punjab University and with wide experience in industry in the field of Marketing Research. He is presently a Marketing Consultant and is involved with teaching the subject to students of MBA course. He is a visiting faculty at SIIB. 1. 3 Objectives ? To estimate the demand for supplementary reading material for the next one year among the post-graduate students (Medical and MBA) in Pune city. ? To find reasons for borrowing/sharing the supplementary reading material. ? To find areas of interest for the readership. 4 Operational Definitions and Scope Operational Definitions ? Estimation of Demand: To form an approximate opinion of amount in INR for the desire for a particular commodity. The desire should be supported by purchasing power. Only the situation where the student is directly purchasing the reading material is considered. ? Supplementary Reading Material (SRM): Reading material that is an addition to the curriculum. The research considers periodicals and journals (print and CD format) in English that are used by the students as a source of extra information. ? Student: A person engaged in a higher course of study after completion of basic high school education (in case of M. B. B. S. ) and after completion of a basic graduation degree (in case of M. B. A. ). Pune City: Refers to the Pune Municipal District and PCMC. ? Borrowing: From the library and others like peers, seniors, etc. There is no money spent on the individual units. ? Sharing: Among friends, where the person pays a part of the amount spent on purchasing the units. ? Purchasing: Includes only the SRM that is bought by an individual for personal use. The individual, in this case, pays the entir e price of the unit. ? Areas of interest: The subject different from the specialization of the respondent. This subject should be in tandem with the definition of SRM. Scope ? Geographic scope: Pune city Time scope: 1 year ? Target respondents: M. B. B. S. students and postgraduate students of Business Administration Full-time students Based within the specified geographic area ? Product scope: Periodicals and journals in English language 1. 5 Research Design [P1. 5. 1] The research was conducted in a structured, undisguised manner. [SP1. 5. 1. 1] The methodology undertaken was survey technique, with mall interviews. [P1. 5. 2] Exploratory Design [SP1. 5. 2. 1] Theories The following theories were studied before undertaking the research: 1) Buyer’s Intention Theory ) Chain Ratio Method of Demand Estimation 1) Survey of buyers’ intention A buyers’ intention survey indicates what buyers are likely to do under a given set of conditions. 2) Chain-ratio method of dem and estimation The theory uses the total market potential as the basis of forming the chain ratio. The total market potential is the maximum amount of sales that might be available to all the firms in an industry during a given period. The formula used is: Q= n x q x p Where; 1) Q = total market demand 2) n = number of buyers in the market ) q = quantity purchased by an average buyer per year 4) p = average price of a unit According to Kotler and Keller, the chain-ratio method involves multiplying the base number by several adjusting percentages. [SP1. 5. 2. 2] Case Study The case study was prepared by Book Marketing Limited (London) for Publishers Association in 2003. The research objective was to conduct a study of information sources and book buying behaviors of students. The objective was to investigate the following; 1. Information sources with reference to books owned, books borrowed and the internet 2. Book purchasing behavior with reference to new, second hand and recommended books. The investigation is done in terms of; a. Number of units purchased b. Value of units purchased 3. Use of Library 4. Access to Internet 5. Sources of books The case study comprised a single quantitative stage of research. It involved a target of 750 interviews across a representative sample of undergraduate students. Students were interviewed at a variety of universities. The interviews were conducted using two methods; by face-to-face interviews or by self-complete questionnaires. The salient features of the research were that it studied the: 1. Student finances 2. Information sources used a. Overall Usage levels b. Alternatives used c. Internet usage d. Ease of access to the internet 3. Usage of University Library in terms of frequency 4. Book Buying behavior in terms of: a. Overall incidence of purchase b. Numbers of books bought c. Values of purchases d. Reasons for non-purchase e. Extent of choice of recommended books f. Value for money g. Extent of use of individual books 5. Sources of books a. Sources used at all b. Extent of buying from different sources c. Online purchases The findings and implications of the above research were as follows: 1. Student market for books has remained very stable, despite the changes in course structure 2. Usage of electronic media/ the Internet in the future will go up gradually with removal of technological barriers. In the general consumer market for books, online bookstores have a struggle to take a major share of the market, as they are not perceived as offering significant price advantages. Also students cannot view them in advance SP1. 5. 2. 3] Focus Group A focus group interview was conducted on the first year students of MBA. The objective was to gain an insight into the sampling technique and locations for conducting the interviews. The questions assigned were: i) What sampling technique should be used – probabilistic or non probabilistic? ii) If probabilistic technique is selected then should it be stratified or non-stratified sampling? And if st ratified then how the strata should be defined? iii) What locations should be preferred while undertaking mall intercept interviews? [P1. 5. ] Data Collection Design The method used for data collection was survey method and personal interviews were conducted. The reason for conducting personal interviews was that probing and prompting was required while administering the questionnaire which was not possible in any other technique. The questions required memory aids as they were related to future intentions and past purchases. The interviews were mall intercept interviews, the advantage being that it is more efficient and appropriate when the respondents are on related places (libraries or college campus). Another alternative was to use telephone survey. It was rejected because the retention in an interview declines in a multiple choice questionnaire over a telephonic conversation. Mail interviewing was another option. It was rejected because of the low response rate. E-mail interviewing was also rejected on the premise that the response rate is low and validity of data may be compromised. [P1. 5. 4] Sampling Design The sampling universe comprises graduate students of Medicine and post graduate students of Business Administration in Pune city. The research follows quota sampling. The sample consists of 138 respondents of which 48 are MBBS students and 90 are MBA students. The findings cannot be generalized to the entire universe because the buyers’ intention theory was studied but not implemented in entirety. Hence reliability was not maintained. [P1. 5. 5] Fieldwork Design A meeting was arranged to instruct investigators about administering the questionnaire. Separate instruction sheets were provided to each investigator to facilitate the interviews. Prompt cards were provided to help the respondents in clarification of terms. The duration of the training was 5 hours. Respondent Error ? Inability Error Some respondents were unable to answer the intention questions as they were not sure about their specialization subjects in future. The error was minimized by providing prompts and assuring the respondents that the intention need not be final and binding. ? Unwillingness Error Some respondents were unwilling as they had classes and examinations the following day. The error was minimized by assuring the respondents that the interview would be simple and less time consuming. Investigator/Researcher oriented Error ? Recording Error Some investigators recorded the amount and units without converting the values for a 12 month period. The error has been minimized by rechecking with the particular investigator because investigator codes were provided and data could be confirmed. [P1. 5. 6] Analytical Design The data for respondents (MBBS students) has been tested using t-test. The data for respondents (MBA students) has been tested using z-test. [P1. 6] Limitations The research cannot be generalized to the entire universe because several theories like the buyers’ intention theory, the chain ratio theory were studied but not implemented in entirety. Hence reliability was not maintained. [P1. 7] Format of the report Chapter II FINDINGS : It comprises the findings and the analysis on data of Medicine and MBA students. It gives the estimation of demand among the Medicine and MBA students CHAPTER II FINDINGS 2. 1 Findings from secondary data [SP2. 1. 1]Theories The chain ratio method and buyer intention survey method were studied to obtain insights and understanding on the research design. The chain-ratio method involves multiplying the base number by several adjusting percentages. Using this method the following formula applied to the research: D= p x e Where; D = Demand for Periodicals and Journals p = Population e = Average Expenditure/Month Respondents were asked to give the estimated expenditure on SRM for the last three months. The total amount spent on purchases of SRM in the last one year was calculated by extrapolating this data to one year (multiplying by 4). The figure obtained has to be verified with the respondent and then recorded. Buyer’s intention theory facilitated the identification of alternative course of action. The research provides a gratis of reasons for opting for borrowing/sharing and areas of interest for the respondents. SP2. 1. 2] Case Study The case study was used to gain insight for developing an approach to the problem and define the objective more precisely. Demand is estimated in Rupees. It helped in formulating the sample design. The decision for locations for interview was also facilitated by the case study. [SP2. 1. 3] Focus Group The focus group helped to determine the sampling de sign and the locations for conducting the interviews. The sampling technique used was non probabilistic quota sampling. The proposed sample was 150 respondents in the ratio 1:2 for Medical and MBA respectively. The MBBS students consist of both private and non-private colleges and MBA students are classified according to year of study. The focus group specified locations to conduct the mall intercept interviews. The interviews were conducted in college libraries, canteens, cafes or any other location on campus where the students gathered. [SP2. 1. 4] Pre Test For the purpose of improving the questionnaire, a pre-test was conducted to test the questionnaire on a small sample of respondents. A sample of 9 respondents was taken, out of which 4 respondents were from MBBS and 5 from MBA. There were no problems identified during pretesting. All questions were understood by the respondents correctly and data was collected according to the requirements. 2. 2 Findings from Survey [P2. 2. 1] MBBS Students [SP2. 2. 1. 1] Sample Profile [P1]Acquaintance of readers with respondents The respondents belong to two separate samples as in the table, both of which are independent of each other i. e. the attributes of one sample have no bearing on those of another. The sample comprises 48 medical students of private and non-private (government) colleges of Pune. Out of these 26 students are from non-private college and 22 from private college. [Ref. Table 2. 2. 1. (1)] [T1] Table 2. 2. 1. 1 (1) Sample Profile of MBBS Students | |Type of College |Grand Total | | |Non-private |Private | | |Total |26 |22 |48 | [P2] Readership Pattern of SRM The inference derived is that 11 respondents or 23 percent read SRM and 37 respondents or 77 percent do not read SRMs. [Ref. Figure 2. 2. 1. 1 (2)] [F1] Figure 2. 2. 1. 1 (2) Readership Pattern of SR M n=48 [P3] Average of Total Intended Demand The intended demand (Rs. ) for purchase of SRM for next one year by MBBS students of private and non-private colleges is not statistically significant. t-test is applied as the sample size for each classification is less than 30 and the two samples are independent. [Ref. Table 2. 2. 1. 1(3)] For further analysis the two samples are merged and medical students are considered as one single sample. The details of hypothesis formulation and the calculation have been attached in Annexure C. The average total intended demand ranges between Rs. 0 and Rs. 729 with 95% confidence. [T2] Table 2. 2. 1. (3) Average of Total Intended Demand n=48 | |Average Demand |Range | |Total Intended Demand of Purchases (Rs. ) |502 | | | | |0-729 | [SP2. 2. 1. 2] Estimation of Overall Average Demand of SRM (Current Intended) The total average demand (Rs. ) of MBBS students for purchase of SRM for the current year is Rs. 325 and that intended for the next one year is Rs. 502. [Ref. Table 2. 2. 1. 2] [T3] Ta ble 2. . 1. 2 Estimation of Overall Average Demand of SRM (Current Intended) n=48 |Nature of Demand |Average Demand (Rs. ) | |Current Year |X1 = 325 | |Next One Year |X2 = 502 | [SP2. 2. 1. 3] Current Demand of Print SRM The overall average current demand of MBBS students for print SRM is Rs. 75, within the range of Rs. 8 to Rs. 142. The average current demand for subscription in print media for SRM is Rs. 31, within the range of Rs. 0 to Rs. 78. The average current demand for off the shelf purchase in print media for SRM is Rs. 44, within the range of Rs. 2 to Rs. 86. [Ref. Table 2. 2. 1. 3] [T4] Table 2. 2. 1. 3 Current Demand of Print SRM n=11 | |Average Demand (Rs. ) |Range (Rs. ) | | Print Overall |75 |8 -142 | |Print Subscription |31 |0-78 | |Print OTS |44 |2-86 | [SP2. 2. 1. 4] Current Demand of CD format SRM The overall average current demand of MBBS students for CD format SRM is Rs. 250, within the range of Rs. 0 to Rs. 633. There is no current demand for subscription in CD format for SRM. The average current demand for off the shelf purchase in CD format for SRM is Rs. 250, within the range of Rs. 0 to Rs. 633. [Ref. Table 2. 2. 1. 4] [T5] Table 2. 2. 1. 4 Current Demand of CD format SRM n=11 | |Average Demand (Rs. ) |Range (Rs. ) | |CD Overall |250 |0-633 | |CD Subscription |0 0 | |CD OTS |250 |0-633 | [SP2. 2. 1. 5] Estimation of intended demand for print The overall average intended demand of MBBS students for print SRM is Rs. 231, within the range of Rs. 102 to Rs. 361. The average intended demand for subscription in print media for SRM is Rs. 164, within the range of Rs. 43 to Rs. 284. The average intended demand for off the shelf purchase in print media for SRM is Rs. 68, within the range of Rs. 3 to Rs. 132. [Ref. Table 2. 2. 1. 5] [T6] Table 2. 2. 1. 5 Intended Demand of Print SRM n=11 |Average Demand (Rs. ) |Range (Rs. ) | |Print Overall |231 |102 -361 | |Print Subscription |164 |43-284 | |Print OTS |68 |3-132 | [SP2. 2. 1. 6] Estimation of intended demand for CD format The overall average intended demand of MBBS students for CD format SRM is Rs. 271, within the range of Rs. 0 to Rs. 695. There is no average intended demand for subscription in CD format for SRM. The average intended demand for off the shelf purchase in CD format for SRM is Rs. 271, within the range of Rs. 0 to Rs. 695. [Ref. Table 2. 2. 1. 6] [T7] Table 2. 2. 1. 6 Intended Demand of CD format SRM n=11 | |Average Demand (Rs. ) |Range (Rs. ) | |CD Overall |271 |0-695 | |CD Subscription |0 |0 | |CD OTS |271 |0-695 | [SP2. 2. 1. ] Estimation of sources of accessing SRM The inference derived is that out of 11 respondents who read SRM 6 both purchase and borrow/share SRM. [Ref. Figure 2. 2. 1. 7] [F2] Figure 2. 2. 1. 7 Estimation of sources of accessing SRM n=11 [SP2. 2. 1. 8] Estimation of reasons for borrowing/sharing SRM and not purchasing The inference derived is that out of 10 respondents who borrow/share and/or purchase SRM, 42% claim that cost effectiveness is the main reason for not purchasing. The next in order of importance are low frequency of reading and unavailability. One respondent may have recorded more than one reason. Ref. Figure 2. 2. 1. 8] [F3] Figure 2. 2. 1. 8 Estimation of reasons for borrowing/sharing SRM and not purchasing n=10 [SP2. 2. 1. 9] Estimation of Areas of Interest There is no clear area of preference for readership of SRM though Technological Advancements and Equipments lead the choice of preference. [Ref. Figure 2. 2. 1. 9] [F4] Figure 2. 2. 1. 9 Estimation of Areas of Interest n=48 [pic] [P2. 2. 2] MBA Students [SP2. 2. 2. 1] Sample Profile [P1]Acquaintance of readers with respondents The respondents belong to two separate samples as in the table, both of which are independent of each other i. . the attributes of one sample have no bearing on those of another. The sample comprises 90 management students of colleges of Pune. Out of these 54 students are from first year and 36 from second year. [Ref. Table 2. 2. 2. 1(1)] [T8] Table 2. 2. 2. 1 (1) Sample Profile of MBA Students | |Year of Study |Grand Total | | |First Year |Second Year | | |Total |54 |36 |90 | P2] Readership pattern of SRM The inference derived is that 87 re spondents read SRM. [Ref. Figure 2. 2. 2. 1 (2)] [F5] Figure 2. 2. 2. 1 (2) Readership pattern of SRM n=90 [pic]` [P3] Intended demand (Rs. ) of SRM for next one year by students of first and second year. The intended demand (Rs. ) for purchase of SRM for next one year by MBA students of first and second years is statistically significant. A z-test is applied as the sample size for each classification is greater than 30 and the two samples are independent. [Ref. Table 2. 2. 1. (3)] For further analysis the two samples are considered separately. The details of hypothesis formulation and the calculation have been attached in Annexure D. The average total intended demand ranges between Rs. 64 and Rs. 258 for the first year MBA students with 95% confidence. The average total intended demand ranges between Rs. 27 and Rs. 167 for the second year MBA students with 95% confidence. [T9] Table 2. 2. 2. 1 (3) Intended demand of SRM for next one year by students of first year and second year = 90 |Year of study |First Year |Second Year | |Average of Total Intended Demand of Purchases (Rs) |X1 = 374 | | | | |X2 = 1116 | |Range |64-258 |27-167 | |Number of Respondents |n1 = 54 |n2 = 36 | SP2. 2. 2. 2] Estimation of Overall Average Demand of SRM (Current Intended) The total average demand (Rs. ) of MBA students for SRM for the current year is Rs. 161 for the first year students and Rs. 97 for the second year students. Intended for the next one year is Rs. 170 for the first year students and Rs. 713 for the second year students. [Ref. Table 2. 2. 2. 2)] [T10] Table 2. 2. 2. 2 Estimation of Overall Average Demand of SRM (Current Intended) n=90 |Â   |Average Demand (Rs. | | |First Year |Second Year | |Current Period |161 |97 | |In the next one Year |170 |713 | [SP2. 2. 2. 3] Current Demand of Print SRM The overall average current demand of MBA first year students for print SRM is Rs. 344, within the range of Rs. 219 to Rs. 470. The average current demand for subscription in print media for SRM is Rs. 164, within the range of Rs. 64 to Rs. 263 in this group. The average current demand for off-the-shelf purchase in print media for SRM is Rs. 81, within the range of Rs. 30 to Rs. 240 (95 percent confidence used for all estimations). The overall average current demand of MBA second year students for print SRM is Rs. 586, within the range of Rs. 380 to Rs. 792. The average current demand for subscription in print media for SRM is Rs. 109, within the range of Rs. 34 to Rs. 184 in this group. The average current demand for off-the-shelf purchase in print media for SRM is Rs. 483, within the range of Rs. 85 to Rs. 653 (95 percent confidence used for all estimations). [Ref. Table 2. 2. 2. 3] [T11] Table 2. 2. 2. 3 Current Demand of Print SRM =87 |Â   |Average Demand (Rs. ) |Range (Rs. ) | | |First Year |Second Year |First Year |Second Year | | Print Overall |344 |586 |219 470 |380-792 | |Print Subscription |164 |109 |64 263 |34 – 184 | |Print OTS | 181 |483 |30 240 |85 – 653 | SP2. 2. 2. 4] Current Demand of CD format SRM The research shows that there is no current demand for CD format SRMs among the MBA students in Pune. [SP2. 2. 2. 5] Estimation of intended demand for print The overall average intended demand of MBA first year students for print SRM is Rs. 285, within the range of Rs. 200 to Rs. 370. The average intended demand for subscription in print media for SRM is Rs. 161, within the range of Rs. 105 to Rs. 218 in this group. The average intended demand for off-the-shelf purchase in print media for SRM is Rs. 126, within the range of Rs. 9 to Rs. 173 (95 percent confidence used for all estimations). The overall average intended demand of MBA second year students for print SRM is Rs. 1181, within the range of Rs. 683 to Rs. 1680. The average current demand for subscription in print media for SRM is Rs. 755, within the range of Rs. 297 to Rs. 1213 in this group. The average current demand for off-the-shelf purcha se in print media for SRM is Rs. 426, within the range of Rs. 262 to Rs. 590 (95 percent confidence used for all estimations). [Ref. Table 2. 2. 2. 5] [T12] Table 2. 2. 2. 5 Intended Demand of Print SRM n=87 Â   |Average Demand (Rs. ) |Range (Rs. ) | | |First Year |Second Year |First Year |Second Year | | Print Overall |285 |1181 |200-370 |683-1680 | |Print Subscription |161 |755 |105-218 |297-1213 | |Print OTS |126 |426 |79-173 |262-590 | [SP2. . 2. 6] Estimation of intended demand for CD format The research shows that there is no intended demand for CD format SRMs among the MBA students in Pune. [SP2. 2. 2. 7] Estimation of sources of accessing SRM The data shows that out of 87 respondents who read SRM 67 both borrow and share SRM. Further, 9 respondents both purchase and borrow/share SRMs [Ref. Figure 2. 2. 2. 7] [F6] Figure 2. 2. 2. 7 Estimation of sources of accessing SRM n=87[pic] [SP2. 2. 2. 8] Estimation of reasons for borrowing/sharing SRM and not purchasing The inference derived is that out of 68 respondents who borrow/share and/or urchase SRM, 76% claim that cost effectiveness is the main reason for not purchasing. The next in order of importance are low frequency of reading and unavailability. One respondent may have recorded more than one reason. [Ref. Figure 2. 2. 2. 8] [F7] Figure 2. 2. 2. 8 Estimation of reasons for borrowing/sharing SRM and not purchasing n=68 [SP2. 2. 2. 9] Estimation of Areas of Interest There is no clear area of preference for readership of SRM though Marketing and Finance lead the choice of preference. Ref. Figure 2. 2. 2. 9] [F8] Figure 2. 2. 2. 9 Estimation of Areas of Interest n=87 [pic] Readers Non Readers PURCHASING BORROWING/SHARING PURCHASE BORROW/SHARE SRM Cost Effective Low Frequency of Reading Unavailability 3 3 3 1 0 9 12 12 5 10 0 2 4 6 8 10 12 14 Pharmacology Technological Advancements Biotech Equipments Others Non-Readers Readers 35 8 7 8 3 6 1 Cost Effective Low Frequency of Reading Unavailability 0 5 10 15 20 25 30 Marketing Finance HR Others First year Second year